Saving Money Tips for Kids Designate a Savings Space. Let them Name their Savings Space. Help Them get Clear on a Savings Goal. Help Them See their Money Waste. Break their Allowance-to-Allowance Cycle. Set Up a Consistent Kid Money System.
Have you ever noticed that, aside from that 10% or so of kids who seem to have been born with a money-hoarding mentality, saving for kids is like “second nature” as driving a car for the first time? You should teach money management to children as it is one of the most important life skills because you don’t want them to start out in the deficit. Source: moneyprodigy.com